LTC price history includes peaks intersected by long periods of sideways activity. In December 2017 and April/May 2021, Litecoin’s price broke above $250 and reached a peak of about $410 on both occasions before it fell sharply.
In May 2021, LTC price recorded its all-time high of $412.96, but it fell by over 50% in the following six months.
How does Litecoin work?
Litecoin users send and receive LTC on the blockchain by inputting the public-key information attached to each person’s digital wallet.
Another characteristic that makes Litecoin different from Bitcoin is the time it takes to confirm blocks. It takes Bitcoin nine minutes on average to produce a block, while it takes Litecoin two and a half minutes to produce a block on its network.
Litecoin essentially serves as a “testnet” for improvements to be implemented on the Bitcoin blockchain. For example, Litecoin integrated the Lightning Network – a second-layer technology for Bitcoin to create micropayment channels for payments – ahead of Bitcoin.
Key events and management